A Resort That Floats

Business Jet Traveler » October 2011
Saturday, October 1, 2011 - 6:00am

Want to stay at a resort without staying put? The new Yogi superyacht, which is now available for charter, offers all the ­amenities of a high-end resort, plus the ability to set sail. Features include a pool, two beach clubs, a teppanyaki bar, a massage room, a media and play room, a full array of leisure equipment and a wellness center.  Yogi, which was recently added to the fleet of yacht-services company Burgess, spans just under 200 feet and accommodates 12 guests in six spacious cabins, including a master suite with his-and-hers bathrooms, a pri­vate lounge, a dressing room and an office area. Weekly prices start at a cool €378,000 ($546,000) in the high season and €357,000 ($516,000) in the low season.

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““CEOs go to their vacation homes just after companies report favorable news, and CEOs return to headquarters right before subsequent news is released. More good news is released when CEOs are back at work, and CEOs appear not to leave headquarters at all if a firm has adverse news to disclose. When CEOs are away from the office, stock prices behave quietly with sharply lower volatility. Volatility increases immediately when CEOs return to work.” —David Yermack, a New York University finance professor, whose recently released study shows a correlation between when CEOs take their private jets on vacation and movements in their companies’ stock price ”

-David Yermack